Target (NYSE:TGT) Price Target Cut to $181.00 by Analysts at Royal Bank of Canada

Target (NYSE:TGT) had its target price decreased by stock analysts at Royal Bank of Canada from $191.00 to $181.00 in a research report issued on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the retailer’s stock. Royal Bank of Canada’s price objective would indicate a potential upside of 26.17% from the stock’s current price.

A number of other equities research analysts have also commented on TGT. Truist Financial lowered their price target on Target from $160.00 to $153.00 and set a “hold” rating for the company in a research report on Thursday. Jefferies Financial Group raised their price target on shares of Target from $195.00 to $205.00 and gave the company a “buy” rating in a research report on Monday, April 1st. Bank of America upped their price objective on shares of Target from $160.00 to $190.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Barclays lifted their target price on shares of Target from $142.00 to $169.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 6th. Finally, Guggenheim upped their target price on Target from $160.00 to $190.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Ten investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $180.77.

Target Stock Up 0.1 %

Shares of Target stock traded up $0.19 during trading hours on Thursday, reaching $143.46. The company’s stock had a trading volume of 1,358,858 shares, compared to its average volume of 3,794,259. The company has a market capitalization of $66.37 billion, a P/E ratio of 15.97, a P/E/G ratio of 1.44 and a beta of 1.16. The stock’s fifty day simple moving average is $165.70 and its two-hundred day simple moving average is $149.38. Target has a one year low of $102.93 and a one year high of $181.86. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.29 and a current ratio of 0.91.

Target (NYSE:TGT) last announced its quarterly earnings results on Wednesday, May 22nd. The retailer reported $2.03 earnings per share for the quarter, missing the consensus estimate of $2.05 by ($0.02). The business had revenue of $24.14 billion during the quarter, compared to the consensus estimate of $24.52 billion. Target had a net margin of 3.85% and a return on equity of 33.41%. Target’s revenue was down 3.2% compared to the same quarter last year. During the same period in the previous year, the business posted $2.05 EPS. On average, research analysts forecast that Target will post 9.43 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Christina Hennington sold 4,600 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $170.88, for a total value of $786,048.00. Following the completion of the sale, the insider now owns 38,487 shares in the company, valued at approximately $6,576,658.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Brian C. Cornell sold 45,000 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $167.52, for a total value of $7,538,400.00. Following the completion of the transaction, the insider now owns 346,919 shares of the company’s stock, valued at approximately $58,115,870.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Christina Hennington sold 4,600 shares of Target stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $170.88, for a total transaction of $786,048.00. Following the transaction, the insider now owns 38,487 shares of the company’s stock, valued at $6,576,658.56. The disclosure for this sale can be found here. Insiders sold a total of 52,600 shares of company stock valued at $8,819,598 in the last quarter. Corporate insiders own 0.23% of the company’s stock.

Hedge Funds Weigh In On Target

Hedge funds have recently bought and sold shares of the company. Washington Trust Advisors Inc. boosted its position in shares of Target by 56.1% during the first quarter. Washington Trust Advisors Inc. now owns 178 shares of the retailer’s stock valued at $32,000 after buying an additional 64 shares during the last quarter. Williams Jones Wealth Management LLC. grew its stake in shares of Target by 0.6% in the first quarter. Williams Jones Wealth Management LLC. now owns 10,773 shares of the retailer’s stock worth $1,909,000 after acquiring an additional 68 shares during the period. Larson Financial Group LLC raised its holdings in shares of Target by 1.3% during the fourth quarter. Larson Financial Group LLC now owns 5,339 shares of the retailer’s stock valued at $760,000 after purchasing an additional 70 shares during the last quarter. Godshalk Welsh Capital Management Inc. lifted its position in Target by 0.9% during the fourth quarter. Godshalk Welsh Capital Management Inc. now owns 8,130 shares of the retailer’s stock valued at $1,158,000 after purchasing an additional 70 shares during the period. Finally, Haverford Trust Co boosted its holdings in Target by 0.3% in the first quarter. Haverford Trust Co now owns 27,472 shares of the retailer’s stock worth $4,868,000 after purchasing an additional 70 shares during the last quarter. Institutional investors own 79.73% of the company’s stock.

Target Company Profile

Target Corporation operates as a general merchandise retailer in the United States. The company offers apparel for women, men, boys, girls, toddlers, and infants and newborns, as well as jewelry, accessories, and shoes; and beauty and personal care, baby gear, cleaning, paper products, and pet supplies.